Q1. Consider the following statements regarding the new GDP base year series implemented by MoSPI in 2026: 1. The new National Accounts series uses 2022-23 as the base year replacing the earlier 2011-12 base year. 2. Under the new base year India real GDP growth for FY 2025-26 is estimated at 7.4 per cent. Which of the statements given above is/are correct?
Explanation
Statement 1 is correct: The new National Accounts series with base year 2022-23 was implemented by MoSPI on 28 February 2026 replacing the earlier 2011-12 base year. The revision aligns Indian national accounts with international statistical practices and improves coverage of the digital economy informal sector and gig work. Statement 2 is incorrect: Under the new 2022-23 base year series real GDP growth for FY 2025-26 is estimated at 7.6 per cent not 7.4 per cent. The 7.4 per cent figure was the projection under the old 2011-12 series.